All Articles

JPMorgan Chase has ended its banking relationship with prediction-market platform Polymarket but remains willing to participate in a potential initial public offering by the company. The New York-based bank reportedly cut ties with Polymarket over regulatory concerns, telling the company in October that it would need to find another banking partner. Polymarket subsequently transferred its accounts to an unidentified lender. Despite the change, the relationship between the two

The UK Gambling Commission (UKGC) has provided further insight into the financial risk assessments (FRAs) pilot conducted between 2024 and 2025, warning that weaknesses in operators’ identity verification procedures undermined aspects of the scheme and created additional difficulties for consumers. In a blog post published on Wednesday, Gambling Commission senior executives Helen Rhodes and Sarah Webster outlined problems identified during the pilot, particularly concerning t

The Bank of Lithuania has temporarily prohibited UAB Lux International Payment System from providing financial services to both new and existing customers after identifying what it described as serious deficiencies and possible breaches of money laundering and terrorist financing prevention requirements. The intervention was imposed while the central bank conducts an ongoing inspection into the electronic money institution's activities. The restriction was announced on 4 Augu

A Cuban national has pleaded guilty in the United States to participating in an international migrant-smuggling operation that allegedly helped thousands of Cuban nationals enter the country through illegal and fraudulent means while generating substantial criminal proceeds. The case also involved asylum fraud and an extensive money laundering component, highlighting the close financial links between organised migrant smuggling and the movement and concealment of illicit fund

KPMG Australia has confirmed that it reached a settlement with a former employee who had raised allegations of wrongdoing within the firm's tax division, adding another layer to the growing scrutiny surrounding the professional services firm's governance, whistleblower processes and treatment of misconduct allegations. The settlement relates to historical allegations concerning KPMG Australia's tax practice and comes as the firm faces a separate parliamentary inquiry into all

South Korean police have referred eight people to prosecutors in connection with a payment fraud case involving Gmarket customer accounts, alleging that the individuals helped launder criminal proceeds by providing bank accounts used to receive and move funds generated through unauthorised transactions. Investigators have yet to identify the hacker believed to have organised the original scheme and are continuing to trace the movement of the proceeds. The case relates to unau

The United States Office of the Comptroller of the Currency has rejected Dutch digital bank bunq’s application for a national banking charter, citing significant concerns about the proposed institution’s capitalisation, management experience, business strategy and ability to operate safely and profitably in the U.S. market. The decision represents a setback for bunq’s plans to establish a full banking presence in the United States and highlights the demanding regulatory expec

Austrian authorities have uncovered an international sanctions-evasion network that allegedly diverted more than €3.3 million worth of specialised European industrial equipment to Russian defence manufacturers, exposing the increasingly sophisticated methods being used to circumvent restrictions on trade with Russia. The investigation centred on a Vienna-based company that allegedly arranged the procurement and onward delivery of controlled machinery and specialist metalworki

The UK Government is preparing to strengthen its powers to tackle businesses and premises suspected of being connected to organised crime, money laundering and other forms of illicit activity on the country's high streets. The proposed measures would significantly extend the period for which certain premises can remain closed while investigations are carried out and would give local authorities greater control over the expansion of gambling venues. At the centre of the propos

Ireland's financial sector is facing a growing money laundering threat, with new industry research indicating that illicit financial activity has increased significantly over the past two years and that criminal networks are increasingly turning to digital channels to move and conceal their proceeds. The findings highlight the growing challenge for financial institutions as criminals move away from traditional cash-based methods and increasingly exploit digital payments, fint

The United States has significantly narrowed its beneficial ownership reporting requirements, removing the obligation for companies created under U.S. law to disclose their beneficial ownership information to the Financial Crimes Enforcement Network. The change represents a major reduction in the scope of the Corporate Transparency Act's reporting regime and shifts the focus of the remaining requirements towards certain foreign companies operating in the United States. Under

Romania’s National Office for Gambling (ONJN) has added approximately 800 illegal gambling websites to the country’s national blacklist, marking the largest single blacklist expansion under the regulator’s current leadership. The decision was announced on 31 July 2026 by ONJN, whose Supervisory Committee approved the addition of the new domains. The latest action more than doubles the previous record established during the same mandate, when approximately 370 illegal gambling

A federal jury has convicted a Georgia man for his role in laundering more than $2.7 million obtained through romance scams and other online fraud schemes that targeted victims, including elderly individuals who were persuaded to hand over substantial portions of their savings. The case demonstrates how online fraud networks can rely on financial intermediaries, business accounts and international transfers to convert stolen funds into proceeds that are more difficult to trac

Ireland is introducing new anti-money laundering requirements aimed at strengthening controls within the gambling industry and preventing criminal organisations and terrorist groups from using gambling businesses to disguise and legitimise illicit funds. The measures form part of a broader effort to strengthen Ireland's financial crime framework and bring greater scrutiny to transactions and customers in a sector considered vulnerable to money laundering risks. The new rules

Austria has uncovered a sanctions-evasion operation in which a Vienna-based company allegedly supplied specialised industrial equipment to businesses connected to Russia's military-industrial sector. The investigation has resulted in arrests and the seizure of machinery and tools, while authorities continue examining a complex network of companies allegedly used to conceal the ultimate destination and end users of the exported goods. The investigation centres on a company bas

Brazil is introducing a new safeguard for cryptocurrency transactions that will require regulated institutions to delay certain outbound virtual asset transfers for 24 hours before allowing them to proceed. The measure, adopted by the Central Bank of Brazil, is designed to give financial institutions additional time to identify potentially fraudulent or illicit transactions before digital assets leave their control and are transferred to foreign platforms or privately control

A network of companies based in the United Arab Emirates has been identified as playing a central role in financial structures used to move money connected to Iran, highlighting the continuing challenges posed by sophisticated shadow banking and sanctions-evasion arrangements. The networks have been used to facilitate payments linked to Iranian oil and other commercial activities while attempting to conceal the origin and destination of the funds. The structures identified by

Germany's Federal Financial Supervisory Authority has issued a formal warning against a former managing director of a financial services institution over serious and persistent deficiencies in measures intended to prevent money laundering and terrorist financing. The regulatory action, issued on 3 July 2026 and becoming final on 9 August, highlights an increasingly important principle in financial crime supervision: responsibility for ineffective AML controls can extend direc

Sri Lanka has ordered the immediate blocking of 24 online gambling and betting websites that are operating without the licenses required under the country’s legal framework. The Telecommunications Regulatory Commission of Sri Lanka (TRCSL) has instructed all telecommunications service providers to restrict access to the identified platforms with immediate effect. The websites covered by the directive are 1xbet.com, betway.com/en-lk, 22bet.com, melbet.com, unibet.com, betfair.

World Liberty Financial is facing increased scrutiny after a $100 million purchase of its governance tokens was linked to a businessman who is the subject of an ongoing money laundering investigation in the United Kingdom. The investment, made through an entity connected to the UAE-based Aqua1 Foundation, has raised questions about the source of the funds and the due diligence applied to investors in the Trump-linked cryptocurrency venture. The investment represents the large